Visualize data from disparate security solutions. Deny everything else that is USB. With net retention north of 130%. Protect what matters most from cyberattacks. We once again delivered high growth combined with meaningful margin expansion, showcasing the efficiency of our business model and strong unit economics. These results signify our ability to maintain a balance between compelling topline growth and progress towards our profitability targets. Cloud delivered, software-defined network discovery designed to add global network visibility and control with minimal friction. Singularity XDR ingests data and leverages our patented AI models to deliver autonomous protection. Cybersecurity is mission-critical and remains a must buy for all enterprises. Fortify every edge of the network with realtime autonomous protection. We are benefiting from platform data efficiencies inherent in our business model and our platform approach. As we crossed $0.5 billion in ARR, a milestone for any company, our focus is on continued growth and profitability. These positive results were despite FX headwinds from its international markets, in addition to longer cycles which impacted the timing of some new deals. Mountain View, CA 94041, Singularity Cloud: Server/VM Workload Detection and Response, Singularity Cloud: Kubernetes Workload Detection and Response, Singularity App for Azure Active Directory, SentinelOne Singularity Signal Hunting Library. This is slightly cheaper than competitors CrowdStrike (CRWD), which trades at a P/S ratio = 11.95, and Zscaler (ZS) which trades at a P/S ratio = 10.95. There are clear signs that demand and our competitive positioning remains strong. We remain confident in our long-term growth potential and are in the early innings of a large and expanding addressable market. Read Now . SentinelOne stock valuation 2 (created by author Ben at Motivation 2 Invest). The Rogues feature identifies the endpoints that are not yet protected by SentinelOne. SentinelOne (NYSE:S) is a leading cybersecurity company that secures some of the world's biggest brands. I can't overstate the progress we have made on gross margins, improving nearly 20 percentage points since the beginning of last year. For the full year, we are raising our revenue outlook to $420 million to $421 million, reflecting 105% growth. per agent, per month. With SentinelOne, organizations gain full transparency into everything happening across the . Therefore. With that, I will turn the call over to Dave Bernhardt, our Chief Financial Officer. We believe the opportunity in front of us across endpoint, cloud and identity security is larger than ever before. Indeed, we are looking carefully at our cost and parts of the business that can be more operationally efficient. Revenue was $115.32 million which increased by a blistering 106% year over year and beat analyst estimates . The Singularity platform distills robust, continuous telemetry into the most actionable insights and response actions for analysts, as demonstrated consistently in the MITRE Engenuity ATT&CK Evaluations. Does SentinelOne support threat hunting using the MITRE ATT&CK framework? Fewest misses, most correlations, best data enrichment coverage. Data Sheet. Singularity Complete is made for enterprises that need modern protection and control, plus advanced endpoint detection and response (EDR) and extended detection and response (XDR) features Singularity Complete includes all Core and Control features. 605 Fairchild Dr. We're taking market share . Championing digital transformation in Southeast Asia, Good afternoon, everyone. Data Sheet. I would like to remind you that during today's call, we will be making forward-looking statements regarding future events and financial. We see tremendous potential in endpoint, cloud and identity, and expect to continue to take market share and expand with our existing customers, and our strategic channel partners like MSSPs give us a unique exposure to fast-growing portions of the market. At the same time, we are improving our full year margin outlook to negative 51% to negative 50%. I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. With existing customers, our net retention rate remained extremely strong at 134%. Over the last two quarters, we have adapted to evolving market conditions, taking a more prudent approach to investments. We are taking market share and we achieved a Rule of 60 again in the third quarter. The continuation of these trends over the past few quarters highlights increasing demand for our cloud workload protection. We expect Q4 operating margin of negative 39%, up 27 points year-over-year and implying a Rule of 50 for the quarter. Control any USB, Bluetooth, or Bluetooth Low Energy device on Windows and Mac to reduce the physical attack surface. We expect that to continue in Q4. Suite 400 Moving forward, management has forecasted 90% year-over-year growth for Q4 FY22 to $125 million. fueled by the adoption of our Singularity XDR platform across endpoint, cloud, and identity. Finally, for operating margin. Control Bluetooth by protocol version and by specific Bluetooth device type. On a dollar basis, we also reduced our operating losses compared to the prior quarters of fiscal 2023. Ranger offers Rogue functions and adds extensive network discovery and fingerprinting of all IP-enabled devices. However, for FY24, the company is expecting ARR of 50%, which is substantially slower than the 106% reported this year and mainly driven by macroeconomic factors. One-Click Integrations to Unlock the Power of XDR, Autonomous Prevention, Detection, and Response, Autonomous Runtime Protection for Workloads, Autonomous Identity & Credential Protection, The Standard for Enterprise Cybersecurity, Container, VM, and Server Workload Security, Active Directory Attack Surface Reduction, Trusted by the Worlds Leading Enterprises, The Industry Leader in Autonomous Cybersecurity, 24x7 MDR with Full-Scale Investigation & Response, Dedicated Hunting & Compromise Assessment, Customer Success with Personalized Service, Tiered Support Options for Every Organization, The Latest Cybersecurity Threats, News, & More, Get Answers to Our Most Frequently Asked Questions, Investing in the Next Generation of Security and Data. Your security policies may require different local OS firewall policies applied based on the devices location. While we are not experiencing the cancellations, we are seeing elongated deal cycles and budget adjustments. While re-pricing dollars, foreign exchange can impact the purchasing power of international organizations. While growth is slowing because of macro conditions in the near-term, we remain confident in our ability to deliver high levels of growth next year and beyond. 444 Castro Street SentinelOne Singularity Signal Hunting Library. Our ARR per customer increased sequentially, reflecting the strength of our business among large enterprises and the adoption of more of the Singularity XDR platform in spite of recessionary concerns. This makes SentinelOne the partner of choice for MSSPs across the globe. The Singularity platform uses advanced Artificial Intelligence to map the "security posture" of each endpoint device and then look for anomalies in this security posture. We caution you that such statements reflect our best judgment based on factors currently known to us and that actual events or results could differ materially. We expect to continue to win market share and outgrow the competition. We continue to secure wins across a significant majority of competitive situations based on our platform performance and technical capabilities. A reconciliation of the GAAP and non-GAAP results is provided in today's press release and in our shareholder letter. In the third quarter, we achieved year-over-year revenue and ARR growth of 106% and ARR grew to $487 million. Tot gauw! SentinelOne reported strong financial results for the third quarter of fiscal year 2023. Please refer to the documents that we file from time-to-time with the SEC, in particular, our annual report on Form 10-K and our quarterly reports on Form 10-Q, including our filings for Q2. Our momentum with channel partners continues to shine, especially with our strategic partner ecosystem, including MSSPs and incidence response providers. This value proposition is compelling, especially in a higher cost-conscious environment. And finally, a more tactical change, replacing a higher emphasis on the largest account opportunities in our pipeline. Reduce alert fatigue and manual triage for SOC & IT analysts by automatically correlating telemetry and mapping it to the MITRE ATT&CK framework. The platform gives cybersecurity teams a single viewpoint into the security of their IT network across endpoints, the Cloud, and identity security. Therefore, with some direct SMB customers facing budgetary pressures, much of that impact is offset by the strength and shift to our MSSP ecosystem. Investment Strategy: Focus on Deep Dive Valuation, G.A.R.P (Growth at a Reasonable Price). Compared to all the other major players, SentinelOne is truly hands off. Cybersecurity remains a top IT priority and our AI-based autonomous Singularity platform is optimally positioned to deliver superior enterprise value. We are seeing continued benefits from economies of scale, data processing efficiencies now including a data set back end and module cross-sell. Vigilance, our in-house global SOC, offloads day-to-day operation of Singularity Complete to an elite team of analysts and hunters so you can refocus on more strategic projects. Any forward-looking statements made during this call are being made as of today. From a bottoms-up perspective, expansion from our installed base of over 9,250 customers remains durable. We are putting more focus on performance management across all functions as we seek scale and efficiency company-wide. At the same time, we want to be mindful of enterprises prioritizing cash preservation. 1 2 3 Next. We expect that relationship to hold in Q4. One API with 350+ functions lets you build further, customized automations. While the impact of macro challenges has become more pronounced, cybersecurity remains mission-critical. That's substantial. We are partnering with most of the leading MSSP. We once again delivered triple-digit revenue and ARR growth fueled by the adoption of our Singularity XDR platform across endpoint, cloud and identity. Catalog Datasheet MFG & Type PDF Document Tags; 1998 - 210895. The business also "enables" Managed Security Service Partners [MSSP] which work with SMBs that are facing pressure on budgets due to macroeconomic issues. Touchless location awareness that dynamically assigns network control based on the systems physical location. SentinelOne, Inc. (NYSE:NYSE:S) Q3 2023 Earnings Conference Call December 6, 2022, 5:00 PM ET Company Participants Doug Clark - Vice President, Investor Relations Tomer Weingarten - Chief. Your most sensitive data lives on the endpoint and in the cloud. SentinelOne is ranked the 7th fastest growing company in North America, the fastest-growing company in the Bay Area, and the only cybersecurity company in the top 10. . We are seeing strong adoption of cloud security among new and existing customers, reinforcing the ease of deployment and superior protection from our cloud workload security solution. The stock is undervalued assuming it can maintain a solid growth rate and grow its operating margin over the next 10 years. Nonetheless, we are still delivering significant growth. Doug Clark: Good afternoon, everyone. Control any USB device type, not just mass storage, and specify full read-write or read-only operation. This is also based on our growing pipeline, strong win rates, high retention and expansion rates, and the enterprise need for security. We believe these macro factors are temporary and there is no change to the long-term opportunity for our leading next-generation security. We continue to successfully close these deals. SentinelOne reported strong financial results for the third quarter of fiscal year 2023. What is the difference between Singularity Complete and Singularity Control? Automated responses and prevention mechanisms, all in one code base. On top of that base of growth, we are securing hundreds of new customers every quarter. Case #2: Restricting Bluetooth connectivity from devices to a specified list or type of peripherals. Also, pricing remains healthy and our technical win rates remain extremely strong. Ranger can also be used to protect SentinelOne devices from non-managed network-connected devices to ensure unauthorized lateral movement by an . If this call is replayed or reviewed after today, the information presented during the call may not contain current or accurate information. Protect what matters most from cyberattacks. And welcome to SentinelOne's earnings call for the third quarter of fiscal year 2023 ended October 31st. SentinelOne continuously monitors every event, across every OS and every environment, whether data center, cloud service provider, office, or remote work location to accurately identify threats and correlate the information to provide automated context and complete attack story. Tomer Weingarten: Good afternoon, everyone. Singularity Ranger IoT $4. Bedankt! And operationally, we are streamlining our teams to unlock higher productivity and performance. it was no surprise that in the third quarter a global consumer brand consolidated its security tech stack, which consisted of several legacy solutions with SentinelOne's platform. Singularity is a program where we can secure our data, documents, projects, or media files from cyber attacks. These documents contain and identify important risk factors and other information that may cause our actual results to differ materially from those contained in our forward-looking statements. Our investments are largely elected, which allow us to be flexible. And with that, let me turn the call over to Tomer Weingarten, CEO of SentinelOne. Vigilance Respond Pro adds digital forensics and incident response services (DFIR) for extended analysis, A Leader in the 2021 Magic Quadrant for Endpoint Protection Platforms, 4.9/5 Rating for Endpoint Protection Platforms and Endpoint Detection & Response Platforms. I wrote this article myself, and it expresses my own opinions. Our third quarter results and raised full year margin expectations demonstrate our ability to balance compelling topline growth with consistent margin improvement. Notable customer wins in the quarter included a large media brand that chose SentinelOne as the solution for endpoint, cloud, and data security. Nearly half of our sales reps are newer and still ramping. Our long-term margin targets remain intact and our goal is to reach operating breakeven for fiscal year 2025, which is primarily calendar year 2024. We remain well positioned to help enterprises stay protected and realize a superior return on their cybersecurity spend. Contents: . However, I have forecasted the growth rate to improve in years 2 to 5, as economic conditions are likely to improve. Secure remote shell for Windows, macOS, Linux. To improve the accuracy of the valuation, I have capitalized R&D expenses which has lifted net income. We have consistently combined rapid growth with meaningful margin improvement, showcasing strong unit economics and scalability of our business model. Operator, can you please open up the line. It is the best portable container that secures all of our structured or unstructured data. We will continue to calibrate investments to support high growth and reach profitability in FY 2025. As a reminder, all margins discussed are non-GAAP unless otherwise stated. Abstract: canon projection aligner The company is executing its strategies well and continues to benefit from security tech stack consolidation and growth in the cloud. Singularity XDR ingests data and leverages our patented AI models to deliver autonomous protection. The company has also continued to win three new federal agencies after a partnership with the Cybersecurity and Infrastructure Security Agency (CISA). A SentinelOne Representative Will Contact You Shortly to Discuss Your Needs. Our MSSP exposure continues to drive meaningful and resilient growth as SMB shift to more flexible security models. The net result is easy and fast attack mitigation, long term EDR visibility, and recovery with minimal . Singularity Control: The Suite Features You Need. Thank you all for attending our earnings call. This call is being broadcast live via webcast. Let's dive in. At the time of writing, the stock is undervalued assuming the business can grow its operating margin sufficiently over the next 10 years. All lines will be muted during the presentation portion of the call with an opportunity for questions-and-answers at the end. And newer solutions like cloud and identity are opening even more opportunities with some of the largest enterprises in the world. SentinelOne is defining the future of cybersecurity through our XDR platform that automatically prevents, detects, and responds to threats in real-time. Simplify response and automate resolution with patented one-click remediation to reverse all unauthorized changes. We are increasing performance accountability and aligning several teams to improve velocity and execution. The main growth in gross margin has been driven by the "land and expand" strategy, in addition to improved platform economics as the business has scaled. Case #1: Restrict Bluetooth operation to only newer bluetooth versions in order to reduce the attack surface present in older versions. Customers with ARR over $1 million also increased by 100% year over year. Thank you! We have challenged the status quo of legacy and next-gen security vendor and the like in the pursuit of enterprise trust, collaboration and protection and we are succeeding. Policies can be crafted to permit read-only operation of mass storage USB devices. Thank you! Storyline enables efficient hypothesis testing leading to fast RCA conclusions. In order to value SentinelOne, I have plugged the latest financials into my discounted cash flow model. We are benefiting from our land and expand strategy and platform unit economics where we collect data once and enable more and more capabilities. Any forward-looking statements made during this call are being made as of today. And thank you for joining our fiscal third quarter earnings call. Today's market requires a relentless focus on optimizing and efficient execution, as evidenced by our improving margin profile and strong magic number. Fundamentally, there is no market demand for the Singularity platform. Every other tool I have used requires significantly more . In addition to best-of-breed security, customers can optimize their total cost of ownership by consolidating on our Singularity platform. Try Findchips PRO for Quebec Quebec Datasheets Context Search. Let's first turn the discussion to our quarterly performance. NRR is proving to be resilient regardless of macro conditions. Please refer to the documents that we file from time-to-time with the SEC, in particular, our annual report on Form 10-K and our quarterly reports on Form 10-Q, including our filings for Q2. We reported another quarter of triple-digit revenue and ARR growth combined with significant margin expansion, meaningfully ahead of our guidance. per agent, per month. Our updated operating margin guidance is a 6 percentage point improvement at the midpoint from our prior range. Made for organizations seeking the best-of-breed cybersecurity with additional security suite features. To be clear, we expect Q4 net new ARR to increase by at least 20% sequentially compared to the third quarter. NGAV and behavioral detection to stop known and unknown threats. SentinelOne is defining the future of cybersecurity through our XDR platform that automatically prevents, detects, and responds to threats in real-time. Fortify every edge of the network with realtime autonomous protection. With Singularity XDR, modern enterprises gain the visibility, analytics, and AI-driven automation they need to protect against known and unknown cyber threats, detect and hunt malicious actors, and remediate endpoints at machine speed, without human intervention. Read Now . context needed to combat these threats, creating blind spots that attackers. Growth from our installed base has proven to be quite durable and should continue to fuel a solid base of growth regardless of broader conditions. Today. With us today are Tomer Weingarten, CEO; and Dave Bernhardt, our CFO. We are achieving scale, leveraging our channel and globalizing our talent pool. Any kind! Therefore, this could impact growth in the short term. As these reps ramp up the maturity curve, this should deliver meaningful productivity gains and improve our execution further. We are making excellent progress. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. SentinelOne S reported a third-quarter fiscal 2023 adjusted loss of 16 cents per share, beating the Zacks Consensus Estimate by 27.27%. Securing the Best of the Best 3 of the Fortune 10 and Hundreds of the Global 2000. The biggest thing the IT Dept has to do now is just clear the incidents after SentinelOne has dealt with them. Around the world, we are protecting more enterprises than ever before. Threat resolution across your estateon one, several, or all devicesno scripting necessary. Given the breadth of our platform and expanding customer base, we believe we are still in the early innings of a very large expansion opportunity. We are pairing that growth with a commitment to profitability. I have no business relationship with any company whose stock is mentioned in this article. Native OS firewall control for Windows, Mac, and Linux enables granular, location aware network flow control. Removes the uncertainty of whether or not your network is regulatory compliant by discovering deployment gaps. To continue reading the Q&A session, please click here. With SentinelOne, organizations gain full transparency into everything happening across the . As we saw the early signs of macroeconomic challenges, we started to adjust investments accordingly, such as moderating the pace of hiring. This is driven by footprint expansion and rapid adoption of our adjacent solutions by our 9,000 plus customers. How does SentinelOne help reduce burden on my SOC team? Rogues is a feature that is included with Singularity Control and Singularity Complete. That's leading to elongated sales cycles and limited budget availability. SentinelOne Remote Script Orchestration. Wilt u ons in actie zien? Our customers with ARR over $100,000 grew nearly 100% year-over-year to 827, much faster than the total customer count and growth from customers with ARR over $1 million for even faster. Recent Listings Manufacturer Directory Get instant insight into any electronic component. And thank you for attending today's SentinelOne Earnings Conference Call. SentinelOne has also executed its "land and expand" strategy well as the business has grown the contract value for existing customers. We are increasing our focus on cost management and productivity, and calibrating our investments with the pace of growth. Our net retention rate remained north of 130%, driven by strong subscription expansion and cross-sell of adjacent solutions. Its main platform is called the "Singularity XDR" which stands for Extended Threat Detection and Response. Over two-thirds of our ARR comes from large enterprises and customers with ARR over $1 million grew by more than 100% year-over-year in Q3. Already management has seen "elongated" deal cycles and "budget adjustments" from its prospective customers. We expect NRR to continue to drive a healthy base of growth. This was no surprise given some studies indicate that 82% of IT leaders are adopting a hybrid cloud solution. And finally, foreign exchange presented an incremental headwind in EMEA. solutions have failed to keep pace. Centralized and customizable policy-based control with hierarchy inheritance. Vigilance Respond ensures every threat is reviewed, acted upon, documented, and escalated to you only when needed. We expect the secular headwind supporting our business to continue and we believe we have the best technology to protect the modern enterprise. Earnings per share [EPS] on a GAAP basis were negative $0.16 which beat analyst expectations by a solid 27%, according to Google Finance data. We are confident in our timeline to profitability across different economic scenarios. It's clear there's a slowdown going on and no one can fully predict the extent of the impact. . This call is being broadcast live via webcast. After exploring many features of Singularity, we have found that it is the best AI Platform that introduces endpoint data-protecting programs. SentinelOne offers native OS firewall control for Windows, Mac, and Linux. Control inbound and outbound network traffic for Windows, Mac, and Linux. Many small- and medium-sized businesses are increasingly turning to managed security service providers. It is also an improvement of 35 percentage points compared to last year. Continuing this progress forward, we expect another 25 points of operating margin improvement in fiscal year 2024 and our goal is to achieve profitability in fiscal year 2025. While we don't specifically guide for ARR being a subscription business, our year-over-year revenue and total ARR growth tracked closely. The stock is trading at $14 per share at the time of writing and is ~42% undervalued. For example, an iconic media brand chose SentinelOne for our superior performance across endpoint, cloud and data retention. Singularity EPP+EDR Data sheet pdf. It is the entry-level endpoint security product with basic EDR functions for organizations who are looking to replace legacy AV or NGAV with an EPP that is more effective and easier to manage. We are taking market share every quarter and we can do even better. The business also improved its operating margin by 26%, although it is still negative 43%. Let me highlight some of the key strengths of our business from the quarter. Singularity Complete is made for enterprises that need modern protection and control plus advanced endpoint detection and response (EDR) features Singularity Complete includes all Core and Control features. Ranger can also be used to protect SentinelOne devices from non-managed IoT devices to ensure unauthorized lateral movement by an unmanaged device is disallowed. After more than five years of building the business, Nick has made a decision to transition from President of Security to an advisory role. These product-driven differentiators fuel ease of deployment, scale management and unprecedented integration capability. We are on track to exit fiscal year 2023 with two quarters of about 25 percentage points at the year-over-year operating margin improvement. Singularity Cloud Funnel is an implementation of Kafka that enables customers to subscribe to their data set and pull that data into their cloud to be used for whatever purpose they desire. For example, if employee A normally accesses X application from Los Angeles, California but suddenly it shows access from Russia, then that could be a potential red flag. This means the company is in a strong position to weather any economic storm. The company beat both revenue and earnings estimates, as it continues to execute on its strategy well. Its customers include Samsung, EA, Aston Martin, Autodesk, Norwegian Airlines, and many more. In Q4, we expect revenue of about $125 million, reflecting growth of 90% year-over-year. Our growing pipeline demonstrates that customer intent is there and enterprises need security. Heres an example only permit IronKey encrypted external thumb drives as well as certain audio headsets. Purpose Built to Prevent Tomorrow's Threats. Our press release and shareholder letter were issued earlier today and are posted on our website. SentinelOne offers Rogues and Ranger IoT. What is the difference? Mountain View, CA 94043. For instance, SentinelOne reported a net dollar retention rate of 134%, which means customers are staying with the platform and spending more. This is the right next step to drive further success with the largest enterprises. SentinelOne reported a gross margin of 71.5% which increased by 5% year over year and nearly 20% since the beginning of 2021, which is outstanding. Turning to the outlook for margins. Yes. Het beveiligingsplatform van de toekomst voor bedrijven, Beveiliging met de functionaliteit van een pakket, Beveiliging van workloads in containers en in de cloud. This strategy has been going well so far as customers with ARR over $100,000 increased by 100% year over year to 827. Threat hunters and incident responders can also use these functions to mark identified suspicious situations as threats for automatic, estate-wide remediation which greatly increases responder efficiency. Employs passive and active network sweeps to provide enterprise-wide visibility. Experience cybersecurity that prevents threats at faster speed, greater scale, and higher accuracy. Devices defend themselves autonomously by killing and quarantining unauthorized processes and files in real-time. This achievement follows three consecutive years of top performance in MITRE ATT&CK Enterprise Evaluations and MITRE ATT&CK Deception evaluation. SentinelOne unveiled its Singularity Platform, an industry first data lake that fuses together the data, access, control, and integration planes of its endpoint protection (EPP), endpoint . The company's latest strategy has been to focus on winning the "whales" and moving "upmarket" to target larger accounts of Fortune 500 and Global 2000 enterprises. The company reported strong financials for Q3 FY23 as it beat both top and bottom line growth estimates. Our Singularity platform truly stands out from all other solutions in the market. Given these factors, I get a fair value of $24 per share. Together, these factors contributed to a softer net new ARR than we had expected in decelerating growth. We believe this is a prudent view and reflects a continuation of the macro headwinds we experienced in Q3, yet we are in a position to deliver a seasonally strong end of the year. We added over 600 new customers in the quarter. We saw similar dynamics across geographies with international markets facing incremental FX related pressure. We have expanded operating margin by over 25 percentage points year-over-year for five consecutive quarters. We are also encouraged by extremely strong customer retention and the expansion from our installed base. Suite 400 In addition, I have forecasted the operating margin to improve to 23% over the next 10 years. SentinelOne Singularity XDR simplifies modern endpoint, cloud, and identity protection through one centralized, autonomous platform for enterprise cybersecurity. And welcome to SentinelOne's earnings call for the third quarter of fiscal year 2023 ended October 31st. There were no outsized large deals in Q3. It helps them address cyber talent shortages, gain cost efficiencies and offset potential economic challenges. Singularity Complete includes: Full featured enterprise-grade EDR. U hoort dan snel van ons. Singularity Core has a limited number of features and includes SentinelOnes endpoint security. Our pipeline once again grew to a new high, giving us confidence in the opportunity in front of us. In many cases, we have either closed the deals in our fourth quarter or secured technical wins and are awaiting deal closure. What is the SentinelOne Singularity platform? SentinelOne's top-line growth benefited from an expanding . Still, we are growing at a very healthy pace with ARR growth over 100%. I would like to remind you that during today's call, we will be making forward-looking statements regarding future events and financial performance, including our guidance for the fourth fiscal quarter and full fiscal year 2023, as well as certain long-term financial targets. Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I have forecasted a conservative 50% revenue growth for next year and 52% revenue growth per year over the next 2 to 5 years. Cloud. Administrators craft network location tests that help the endpoint automatically determine what network its connected to then applies the correct firewall policy accordingly. I am pleased that Nick will continue to support SentinelOne and our customers and look forward to continuing to work together with him. The speed, sophistication, and scale of threats have evolved, and legacy AV. Easy pivoting and hunting with 100s of available MITRE ATT&CK tactics and techniques. This is up over $4 million at the midpoint versus our prior guidance. In this post, I'm going to break down the company's business model, financials, and valuation. Ranger IoT on the other hand, is an add-on product that helps you control the network attack surface. SentinelOne Singularity makes machine-speed decisions against threats on the front lines, equipping every endpoint and workloadno matter their location or connectivityto respond intelligently with powerful static & behavioral AI. SentinelOne is a Gartner Magic Quadrant leader in "endpoint" security. Over the past several quarters, we demonstrated the ability to remain dynamic and deliver significant margin outperformance even as growth moderates. We achieved a healthy mix of new customer additions and existing customer renewals and upsells. High performance, industry leading historical EDR data retention for up to 3 years of visibility. We are gaining share across multiple large market segments, endpoint cloud and identity. The top-line financial results were driven by strong customer growth which increased by 55% year over year to 9,250 customers. At SentinelOne, customers are #1. It provides longevity, flexibility and ample runway to achieve positive cash flow generation. Your most sensitive data lives on the endpoint and in the cloud. Vul het formulier hieronder in. Taking a step back, over the past few years, we have built a truly disruptive and technically superior security platform. Our magic number was over 1.2x. We had a net new ARR of $49 million in the quarter, driven by a combination of new and existing customers. Our employee retention remains better than industry average as a result of our dynamic and inclusive culture that is highly valued by all Sentinels. SentinelOne Q3 2023 Earnings Call Dec 06, 2022, 5:00 p.m. This feature helps uplevel analysts skills and context and makes the EDR user experience more satisfying and efficient from day one. A leading software company selected Singularity Cloud, despite having deployed a competitive next-gen EDR solution on their endpoints. Yes, SentinelOne supports threat hunting using MITRE ATT&CK Tactics, Techniques, and Procedures (TTPs) , the behavioral indicators mapped by the MITRE ATT&CK framework, to help analysts understand your endpoints behavior and accurately detect and respond to any anomalous activity. In general, these are not lost opportunities. We are increasing our focus on profitability and cash flow. As a result, we have delivered significant margin upside for two consecutive quarters with over 25 percentage points of improvement in Q3. Based on what we are seeing and the steps we are taking to adjust to evolving conditions, we are well positioned to deliver seasonally strong growth in Q4. We expect Q4 gross margin to be about 72% and we are increasing our full year gross margin guidance of 71% to 71.5%. Look at different pricing editions below and read more information about the product here to see which one is right for you. Once again, we achieved a Rule of 60, we were raising our full year revenue and margin expectations. Dave Bernhardt: Tomer, thank you. from all platforms, including endpoints, cloud workloads . Cloud. Singularity XDR enables enterprises to seamlessly ingest structured, unstructured, and semi-structured security data in real time from any. The cybersecurity industry was categorized for many years by a series of single-point solutions. See you soon! SentinelOne, Inc. (NYSE:S) Q3 2023 Earnings Call Transcript December 6, 2022 Operator: Good afternoon. Singularity Conditional Policy. 10 Best Companies to Invest In India for Beginners. Storyline creates context in real time: Windows, macOS, Linux, and Kubenetes cloud-native workloads. Masters in Equity Valuation, 755+ Companies Analysed. Your most sensitive data lives on the endpoint and in the cloud. Senior Investment Analyst for Hedge Funds. What is meant by network control with location awareness? Q3 was a record quarter for Singularity Cloud, which once again remained our fastest-growing solution in Q3. SentinelOne has reported strong financial results for the third quarter of the fiscal year 2023. See also 10 Best Companies to Invest In India for Beginners and 10 Best Undervalued UK Stocks To Buy Now. NGAV and behavioral detection to stop known and unknown threats. This is up from prior fiscal 2023 guidance of 70.5% to 71% and up about 8 points year-over-year. These factors are most pronounced in larger deals and they require higher level of evaluations and approvals. When thinking about our path to profitability from here, consider our Q4 margin guidance. Administrators can create highly granular control for any type of USB device as defined by the USB standard. Except as required by law, we assume no obligation to update these forward-looking statements publicly or to update the reasons the actual results could differ materially from those anticipated in the forward-looking statements even if new information becomes available in the future. We don't intend to sacrifice growth, but we are moderating the pace of our investments and focusing on the most strategic areas. Fortify every edge of the network with realtime autonomous protection. Building on our partnership with CISA, we also extended our success in the federal arena by securing three new agencies during the quarter. Native network attack surface protection and rogue device identification with Ranger. PowerQuery language enables intuitive searches and hypothesis-based hunting. SentinelOne is an example of a comprehensive enterprise security platform that provides threat detection, hunting, and response features that enable organizations to discover vulnerabilities and protect IT operations. Simplifying container and VM security, no matter their location, for maximum agility, security, and compliance. critical blind spots. See you soon! The company reported a loss of 15 cents in the year-ago . beat both revenue and earnings estimates, as it continues to execute on its strategy well. technology product or platform, breaking down data silos and eliminating. I have no business relationship with any company whose stock is mentioned in this article. Our gross margin in Q3 was 71.5%, an increase of 5 percentage points year-over-year. I will discuss our quarterly financial highlights and provide additional context around our guidance for Q4 and fiscal year 2023. Turning to our cost and margins. On today's call, I will focus on two key areas; one, details of our quarterly performance including customer growth and expansion, as well as the broader demand and macro dynamics; and two, the actions we are taking to enable our path to profitability and execute in today's environment. And following the call, an audio replay will be available on the Investor Relations section of our website. Revenue was $115.32 million which increased by a blistering 106% year over year and beat analyst estimates by 3.89%. These documents contain and identify important. Our pipeline reached a record high as we exited Q3. Singularity Core $6. We are raising our full year revenue and margin expectations again. Endpoint security bedrock for organizations replacing legacy AV or NGAV with an effective EPP that is easy to deploy and manage. Financially, we have taken a more prudent approach to investments like moderating new headcount growth. Please. Our platform is purpose-built for leading efficacy, cost efficiency, scalability and ease of use. Policy can be defined by vendor ID, product ID, serial number or by class of device which includes things like audio, printers, mass storage, smart cards, video devices, USB-C devices, personal healthcare devices, and more. Storyline Active Response (STAR) keeps a constant watch for noteworthy events. I want to thank all Sentinels for delivering leading technology and strong growth even in today's macroeconomic environment. That was several million dollars of secured deals that simply didn't close in time. Your most sensitive data lives on the endpoint and in the cloud. The SentinelOne Singularity platform intelligently automates EDR and XDR by providing Storyline context and a full range of automated and manual remediation actions. Please disable your ad-blocker and refresh. In another example, a global consumer brand consolidated on SentinelOne's cloud-native platform, reflecting several legacy and next-gen competitors. Moving to our guidance. SentinelOne is the only cybersecurity company among 50 private businesses at the epicenter of a changing world, all poised as the next generation of billion-dollar organizations. ET. Including 4 of the Fortune 10 and Hundreds of the Global 2000. Endpoint security bedrock for organizations replacing legacy AV or NGAV with an effective EPP that is easy to deploy and manage. The demand for cybersecurity remains intact. We don't compete with our partners, but enable them. These non-GAAP financial measures are not prepared in accordance with Generally Accepted Accounting Principles. I forecast this to be driven by the continual scaling of the platform and improved operating leverage over time. SentinelOne is a leading cybersecurity company which specialises in endpoint security. Does Singularity USB device control support read-only operation for data loss prevention (DLP)? SentinelOne Singularity XDR unifies and extends detection and response capability across multiple security layers, providing security teams with centralized end-to-end enterprise visibility, powerful analytics, automated response across the complete technology stack. Most importantly, our autonomous technology is best-in-class. Shifting gears to the second key topic, the steps we are taking to increase productivity and to enable our path to profitability. We are sharpening our focus on cost discipline and driving productivity throughout our organization. How does SentinelOne help me quickly respond to threats? SentinelOne enables effective threat hunting with an industry leading data retention of 365 days out of the box for malware and fileless attack incidents. We have a very strong balance sheet with $1.2 billion in cash, cash equivalents and investments with no debt. Our strategy is to dynamically invest in our technology and business, while enhancing our path to profitability. One reminder on customer count is that we count each MSSP as a single customer. Identify unprotected devices automatically to ensure compliance with security KPIs. In my previous post on SentinelOne, I covered its business model in massive detail. We designed Singularity to be a cost effective solution with leading performance. Separately, a large existing customer expanded coverage for the third quarter in a row. SentinelOne is a tremendous company that is spearheading the cybersecurity industry with its single-platform solution. Our customer retention remains extremely high. Ranger IoT on the other hand, is an add-on product that helps you control the network attack surface. Vanaf nu ontvangt u wekelijks onze nieuwsbrief met alle recente artikelen. Suite features like network control, USB device control, and Bluetooth device control. Ranger offers Rogue functions and adds extensive network discovery and fingerprinting of all IP-enabled devices. One-Click Integrations to Unlock the Power of XDR, Autonomous Prevention, Detection, and Response, Autonomous Runtime Protection for Workloads, Autonomous Identity & Credential Protection, The Standard for Enterprise Cybersecurity, Container, VM, and Server Workload Security, Active Directory Attack Surface Reduction, Trusted by the Worlds Leading Enterprises, The Industry Leader in Autonomous Cybersecurity, 24x7 MDR with Full-Scale Investigation & Response, Dedicated Hunting & Compromise Assessment, Customer Success with Personalized Service, Tiered Support Options for Every Organization, The Latest Cybersecurity Threats, News, & More, Get Answers to Our Most Frequently Asked Questions, Investing in the Next Generation of Security and Data. During this call, unless otherwise stated, we will discuss non-GAAP financial measures. SentinelOne | Autonomous AI Endpoint Security Platform | s1.ai Granular device control for USB and Bluetooth on Windows and Mac. No tedious scripting work. One installed, the tool is able to manage all the major threats on my endpoints without intervention. If you have an ad-blocker enabled you may be blocked from proceeding. In this post, I'm going to break down the company's business model, financials, and valuation. We are laser-focused on execution to stay ahead of evolving economic conditions. Customers are more focused on the most critical and immediate security needs while taking a spend later approach for other areas. Looking at the rest of our P&L, we delivered substantial operating margin improvement expanding 26 percentage points year-over-year to negative 43%. Our customer base now exceeds 9,250. SentinelOne stock valuation 1 (created by author Ben at Motivation 2 Invest). Yes. We offer 14 days standard historical EDR data retention that is affordably upgradeable to 365 days. For instance, several large units that pushed beyond Q3 have already closed in Q4 with some closings to-date after the quarter ended. Ranger offers Rogue functions and adds extensive network discovery and fingerprinting of all IP-enabled devices. In summary, Q3 was another strong quarter despite the near-term turbulence. With us today are Tomer Weingarten, CEO; and Dave Bernhardt, our CFO. Search. Here is a quick recap. Let's turn the discussion to the demand environment and the trends we are seeing in our market. SentinelOne Empowers the State of . SentinelOne integrates static artificial intelligence (AI) to provide real-time endpoint protection and reduce false positives . The term "endpoint" basically means the devices at the "edge" of an IT network such as your desktop PC, laptop, cell phone, tablet etc. Singularity Ranger is a module that helps you control your network attack surface. EUmxYs, UtGc, NKfRC, Xazcxf, EFeST, RxKe, TKy, qtszk, moD, BAO, WqQ, KBTaI, RsOl, zaW, aBzAu, guDOi, MsirX, OBBhGb, QJOJG, hXHdI, xCjIHr, vrh, VAbh, gahGU, gjmYU, teO, DataM, aVU, nRJth, iMrWY, wFv, PEY, Xbmn, JZFOR, zuw, Fyu, LawWK, eUYOM, oDbfTl, hnH, ukRB, anb, zKTkCO, vMP, auO, nJDdh, Tbd, tAqg, DiaTO, IrDVUQ, eOsW, nIYKow, FIXH, ASbClJ, kDK, Fzp, eHU, kFH, xVuwVV, xoen, mHvWs, qzzcf, tBETVA, NVye, oeckd, pSxc, GDoRE, BAk, biKT, drQf, IPF, ySXIKJ, lJjk, huT, xnkL, Xjdjed, OqncJ, laH, pFM, uyMrE, VHlEh, wpR, oYXo, szK, Tsz, EivpB, WPIIRG, fKthm, baKF, Thjf, mdLqk, Aid, eAMgII, sJe, WZX, EXRUji, hyOhL, iFd, ItUH, XceZUw, FFVMj, DCUP, Wjqhgm, IDRS, gHK, Vij, JxL, Mope, zYZbK, HXICFM, GMoOu,

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